Belgian Racing Association: what changed
What changed
Belgian Racing Association
NACE 73.110, Advertising agencies
filed annual accounts (NBB)
Net result for the year
-€12,042
2024 · -€22,635+€10,592
Equity
-€331,097
2024 · -€319,055-€12,042
Cash
€5,327
2024 · €5,355-€28
Balance sheet total
€21,708
2024 · €32,673-€10,964
Largest movements
Assets
- Tangible fixed assets -€8,420
down €8,420 (-42.1%), from €19,993 to €11,573
- Receivables within one year -€2,161
down €2,161 (-31.4%), from €6,880 to €4,719
of which Trade receivables: -€1,139
- Deferred charges and accrued income -€355
down €355 (-79.8%), from €445 to €90
Equity and liabilities
- Profit (loss) carried forward -€12,042
down €12,042 (-3.7%), from -€321,509 to -€333,551
- Tax, wage and social debts +€915
new in 2025: €915
- Other debts +€338
up €338 (+0.1%), from €351,553 to €351,891
Income statement
- Gross operating margin +€10,706
up €10,706 (+79.1%), from -€13,533 to -€2,826
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€22,635
Gross operating margin
+€10,706
Other operating charges
-€14
Financial income
-€0
Financial charges
-€100
Result 2025
-€12,042
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€28
Investment
€0
Financing
€0
Cash 2024
€5,355
From operations (derived)
-€28
Net result for the year
-€12,042
Depreciation
+€8,420
Receivables within one year
+€2,161
Deferred charges and accrued income
+€355
Trade debts
-€174
Tax, wage and social debts
+€915
Other debts
+€338
Cash 2025
€5,327
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,673 | €21,708 | -€10,964 | -33.6% |
| Fixed assets | 21/28 | €19,993 | €11,573 | -€8,420 | -42.1% |
| Tangible fixed assets | 22/27 | €19,993 | €11,573 | -€8,420 | -42.1% |
| Furniture and vehicles | 24 | €19,993 | €11,573 | -€8,420 | -42.1% |
| Current assets | 29/58 | €12,680 | €10,136 | -€2,544 | -20.1% |
| Amounts receivable within one year | 40/41 | €6,880 | €4,719 | -€2,161 | -31.4% |
| Trade receivables | 40 | €3,323 | €2,184 | -€1,139 | -34.3% |
| Other amounts receivable | 41 | €3,557 | €2,535 | -€1,022 | -28.7% |
| Cash at bank and in hand | 54/58 | €5,355 | €5,327 | -€28 | -0.5% |
| Deferred charges and accrued income | 490/1 | €445 | €90 | -€355 | -79.8% |
| Total equity and liabilities | 10/49 | €32,673 | €21,708 | -€10,964 | -33.6% |
| Equity | 10/15 | -€319,055 | -€331,097 | -€12,042 | -3.8% |
| Contributions | 10/11 | €2,231 | €2,231 | = | 0.0% |
| Reserves | 13 | €223 | €223 | = | 0.0% |
| Non-distributable reserves | 130/1 | €223 | €223 | = | 0.0% |
| Reserves not available under the articles | 1311 | €223 | €223 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€321,509 | -€333,551 | -€12,042 | -3.7% |
| Amounts payable | 17/49 | €351,727 | €352,805 | +€1,078 | +0.3% |
| Amounts payable within one year | 42/48 | €351,727 | €352,805 | +€1,078 | +0.3% |
| Trade debts | 44 | €174 | - | -€174 | |
| Suppliers | 440/4 | €174 | - | -€174 | |
| Taxes, remuneration and social security | 45 | - | €915 | +€915 | |
| Taxes | 450/3 | - | €915 | +€915 | |
| Other amounts payable | 47/48 | €351,553 | €351,891 | +€338 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,420 | €8,420 | = | 0.0% |
| Other operating charges | 640/8 | €485 | €500 | +€14 | +3.0% |
| Gross operating margin | 9900 | -€13,533 | -€2,826 | +€10,706 | +79.1% |
| Operating profit (loss) | 9901 | -€22,438 | -€11,746 | +€10,692 | +47.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €197 | €296 | +€100 | +50.6% |
| Recurring financial charges | 65 | €197 | €296 | +€100 | +50.6% |
| Profit (loss) for the period before taxes | 9903 | -€22,635 | -€12,042 | +€10,592 | +46.8% |
| Profit (loss) for the period | 9904 | -€22,635 | -€12,042 | +€10,592 | +46.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,635 | -€12,042 | +€10,592 | +46.8% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.